PYR PyroGenesis Inc

PyroGenesis Inc. (“PyroGenesis”) (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a high-tech company that designs, develops, manufactures and commercializes all-electric plasma processes and sustainable solutions to support heavy industry in their energy transition, emission reduction, commodity security, and waste remediation efforts, announces today that, given intense public speculation and investor requests, PyroGenesis now identifies Boeing as the global aerospace original equipment manufacturer that had previously been unnamed in company press releases. PyroGenesis further confirms that PyroGenesis’ Ti64 “coarse” metal powder with a size fraction in the range of 45µm to 150µm, produced by PyroGenesis’ NexGen™ plasma atomization system, has met all technical requirements for Boeing, and PyroGenesis continues to move forward in the approved supplier list process.

Image 1: PyroGenesis titanium metal powder as produced by its NexGen™ plasma atomization system.

After achieving the completion of the multi-year Boeing product qualification process for Ti64 “coarse” metal powder (refer to news release dated June 5, 2024), PyroGenesis was then placed in the formal procurement process queue for the purpose of being added to Boeing’s approved supplier list. The process continues in the ordinary course of business and should be completed during Q1 2025. It is, however, possible that this may be moved due to circumstances beyond our control, as is very normal for a process of this type.

“PyroGenesis is proud to be in the final queue for achieving supplier status with Boeing, one of the largest, most notable, and most advanced companies in the world. The high standard of Ti64 metal powder produced for Boeing at PyroGenesis Additive is the result of years of design and engineering work that went into developing our NexGen™ plasma atomization process,” said P. Peter Pascali, President and CEO of PyroGenesis. “Befitting a corporation involved in top-secret military, defense and aerospace projects, Boeing’s process is discreet, confidential and very methodical. Those unfamiliar with the aerospace industry may view this process as either too formidable or unexplainedly prolonged, but for mission-critical product manufacturers this is quite normal, as we have often been advised of such by Boeing.”

Continued Mr. Pascali: “What’s doubly exciting for PyroGenesis is that Boeing has shown itself again and again to be a true innovator in the additive manufacturing arena, having spent more than three decades using 3D printed parts, first with polymers, and then, over the past decade or so, utilizing metal additive processes. Boeing’s work with complex parts geometries, thin-walled structures, and other focus areas have often led the way in demonstrating how additive manufacturing can dramatically reduce the long lead times associated with complex-parts manufacturing, thereby overhauling the supply chain for parts, in the process – especially those that are forged. Boeing’s production of a 3D-printed main rotor link assembly for Apache helicopters, using the Rock Island Arsenal’s Jointless Hull Printer – the largest 3D metal printer in the world – is a perfect example. That single process reduced the lead time for this key part from one year to less than 24 hours, an incredible result and a true showcase for the future of additive manufacturing.i Throughout this qualification process with Boeing, and ahead of the final supplier list notification, PyroGenesis has not been idle. We continue to improve the system in step with Boeing’s continued technological advancements. Separately, we have also been stockpiling the coarse cut titanium powder to ensure project readiness upon being placed on the approved supplier list.”

On a separate, but related, note, PyroGenesis has also submitted its “fine” cut titanium metal powder for qualification by Boeing, and that process continues.

PyroGenesis is the inventor of the original plasma atomization process and in fact coined the term “plasma atomization” in its original patent. The Company’s NexGen™ system is a patented upgrade for the development of metal powder for additive manufacturing / metal 3D printing.

PyroGenesis’ development of high quality titanium metal powders is part of its three-vertical solution ecosystem that aligns with economic drivers that are key to global heavy industry. Metal powders are part of PyroGenesis’ Commodity Security & Optimization vertical, where the development of advanced material production techniques, and the use of technology such as plasma to recover viable metals, chemicals, and minerals from industrial waste, helps to maximize raw materials and improve the availability of critical minerals. Titanium has been identified as a critical mineral by the Canadian government. The Company’s other verticals are Energy Transition and Emission Reduction and Waste Remediation.

About PyroGenesis Inc.

PyroGenesis, a high-tech company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional “dirty” processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization.  The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. PyroGenesis’ shares are publicly traded on the TSX in Canada (TSX: PYR), the OTCQX in the US (OTCQX: PYRGF), and the Frankfurt Stock Exchange in Germany (FRA: 8PY1).

Cautionary and Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance.

Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by PyroGenesis as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in PyroGenesis’ latest annual information form, and in other periodic filings that it has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under PyroGenesis’ profile on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect PyroGenesis. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. PyroGenesis undertakes no obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws.

Neither the Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release.

For further information please contact:Rodayna Kafal, Vice President, IR/Comms. and Strategic BDE-mail: ir@pyrogenesis.com http://www.pyrogenesis.com

i https://www.defensenews.com/industry/techwatch/2023/10/18/boeing-begins-3d-printing-apache-helicopter-parts/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60353ebf-fb63-4c09-86fa-63d6cd34a513